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Exercise 7-4 Internal control over cash receipts LO3 Some of Fanning Co.'s cash receipts from customers are sent to the company in the mail. Fanning's

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Exercise 7-4 Internal control over cash receipts LO3 Some of Fanning Co.'s cash receipts from customers are sent to the company in the mail. Fanning's book- keeper opens the letters and deposits the cash received each day. What internal control problem do you see in this arrangement? What changes would you recommend

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